Springfield VA Loan Rates, Closing Costs & Stats

SPRINGFIELD, OH

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Springfield's 59 lenders originated 279 VA loans during 2024. The total origination value was $70,675,000, with an average VA loan value of $253,315.

    Springfield VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Springfield averaged 0.43% for the week of 2025-07-04, compared to the national average (all VA variants) of 0% for the same period.

    Springfield's average VA mortgage closing costs are $5,486.

    The average rate for the prior week (2025-06-27) was 6.96% and one month ago for the week of 2025-05-30, the average rate was 6.79%.

    The average rate one year ago was 7.1%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.4%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Springfield VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Springfield level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 68 6.44% $5,606
    QUICKEN LOANS, LLC 24 6.22% $9,426
    CROSSCOUNTRY MORTGAGE, LLC 19 6.62% $5,521
    UNITED WHOLESALE MORTGAGE, LLC 18 5.92% $10,232
    PENNYMAC LOAN SERVICES, LLC 9 5.72% $7,208
    FREEDOM MORTGAGE CORPORATION 9 6.04% $5,333
    NEW DAY FINANCIAL, LLC 9 7.66% $9,198
    LOANDEPOT.COM, LLC 7 6.80% $7,713
    Union Savings Bank 6 6.27% $5,862
    USAA Federal Savings Bank 6 6.15% $8,189
    VILLAGE CAPITAL MORTGAGE 5 6.15% $5,421
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.38% $5,755
    NAVY FEDERAL CREDIT UNION 4 5.66% $6,011
    POLARIS HOME FUNDING CORP. 4 6.88% $8,640
    NEWREZ LLC 3 6.25% $4,896
    GUARANTEED RATE, INC. 3 5.86% $6,107
    EQUITY RESOURCES, INC. 3 6.38% $9,222
    Fifth Third Bank 3 5.88% $5,038
    The Huntington National Bank 3 6.50% $6,312
    LAKEVIEW LOAN SERVICING, LLC 3 6.16% $9,377
    FIRST COMMUNITY MORTGAGE, INC. 3 6.00% $6,496
    CLEARPATH LENDING 2 5.25% $5,605
    The Federal Savings Bank 2 6.75% $4,844
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.75% $8,994
    WRIGHT-PATT CREDIT UNION, INC. 2 6.75% $4,390
    NFM, INC. 2 6.69% $11,549
    Gateway First Bank 2 5.75% $9,002
    Flagstar Bank, FSB 2 6.50% $4,741
    MOVEMENT MORTGAGE, LLC 2 6.25% $8,057
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.25% $11,926
    Nations Lending Corporation 2 5.56% $12,238
    PLANET HOME LENDING, LLC 2 6.56% $14,603
    NVR Mortgage Finance, Inc. 2 6.00% $5,351
    UNION HOME MORTGAGE CORP. 2 7.13% $9,255
    The Union Bank Company 1 6.63% $15,670
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.63% $8,756
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.63% $7,195
    CARDINAL FINANCIAL 1 5.99% $11,068
    Carrington Mortgage Services, LLC 1 5.50% $9,075
    DAS Acquisition Company, LLC 1 6.75% $6,057
    Equity Prime Mortgage LLC 1 7.63% $7,131
    FIRST COLONY MORTGAGE CORPORATION 1 6.25% $17,933
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.63% $16,906
    HOMESIDE FINANCIAL, LLC 1 7.13% $10,051
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 6.25% $18,890
    JPMorgan Chase Bank 1 5.49% $4,403
    LIBERTY HOME MORTGAGE CORPORATION 1 7.13% $10,170
    MORIA DEVELOPMENT, INC. 1 7.13% $24,886
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.75% $400
    NATIONS RELIABLE LENDING, LLC 1 6.25% $4,257
    PNC Bank 1 6.63% $3,362
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $5,598
    RUOFF MORTGAGE COMPANY, INC. 1 7.75% $6,465
    T2 FINANCIAL LLC 1 5.75% $9,587
    Texana Bank 1 6.25% $15,031
    THE EQUITABLE MORTGAGE CORPORATION 1 6.75% $3,515
    The Park National Bank 1 6.49% $10,476
    ALLIED MORTGAGE GROUP, INC. 1 5.75% $4,271
    TJC Mortgage, Inc. 1 7.25% $15,768

    The top Springfield VA lender as defined by loan originations is Mortgage Research Center, LLC, with 68 VA loans originated. Their average total fees are $5,606, which is $3,819 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Springfield VA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC ($5,521), Mortgage Research Center, LLC ($5,606), QUICKEN LOANS, LLC ($9,426), UNITED WHOLESALE MORTGAGE, LLC ($10,232) and .

    The lowest rate Springfield VA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.92%), QUICKEN LOANS, LLC (6.22%), Mortgage Research Center, LLC (6.44%), CROSSCOUNTRY MORTGAGE, LLC (6.62%) and .

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.